HT Media Exits FM Radio Business Amid Mounting Losses

HT Media has announced its decision to shut down all of its FM radio operations across major Indian markets, including Delhi, Mumbai, Bengaluru and Chennai, marking a significant exit from the country’s private radio broadcasting sector.

The company, along with its subsidiaries, will voluntarily surrender multiple FM radio licenses to the government and discontinue operations by June 15, 2026.

In a regulatory filing submitted to the stock exchanges, HT Media said it will close three radio brands operating across five cities. The company will discontinue Radio Nasha, which broadcasts on 91.9 FM in Mumbai. Its subsidiary Next Radio will shut down Radio One, currently operating on 94.3 FM in Delhi, Mumbai and Bengaluru.

Meanwhile, wholly owned subsidiary HT Music & Entertainment Company will discontinue Radio Fever, which broadcasts on 91.9 FM in Chennai.

The company clarified that the surrender of licenses is entirely voluntary and not related to any regulatory action, cancellation, or penalty imposed by the government. Applications for surrender are currently being filed with the Ministry of Information and Broadcasting (MIB), which had originally granted the licenses.

According to HT Media, the decision was driven by the radio business becoming “financially and strategically unviable.”

The company’s audited financial statements for FY2024–25 showed that its radio division generated revenue of Rs 29.19 crore, contributing only 1.62% to HT Media’s consolidated revenue.

At the same time, the combined net worth of the radio operations stood at a negative Rs 172.08 crore, representing negative 10.33% of the company’s consolidated net worth. In comparison, HT Media’s overall consolidated net worth remained positive at nearly Rs 1,666 crore.

Despite the long remaining validity period of the licenses, HT Media has chosen to exit the FM radio segment ahead of schedule. The license for Radio Nasha was valid until March 2031, while licenses held by Next Radio and HT Music & Entertainment Company were valid until March 2030.

The company also confirmed that it has not entered into any agreement to sell the radio stations or related business divisions.